Nordic Investment Bank (NIB) and Keski-Suomen sairaanhoitopiiri, the Central Finland Health Care District, have signed a €100m loan agreement to build a new hospital in Jyväskylä, Finland.

The hospital will integrate treatment facilities, introduce new technology, and reorganise patient and personnel logistics, which will help in offering higher quality of service and cost savings.

Waste and geothermal energy in heat production will be used to cover about one third of the hospital’s energy consumption.

NIB president and CEO Henrik Normann said: "The NIB-financed project is expected to improve the productivity of the regional hospital, and thus increase the efficiency of public spending on health care.

"Improved public services contribute to the quality of life in the region and ultimately to its economic competitiveness."

The total cost of the project is estimated at about €500m including construction, ICT, medical and other equipment.

Construction of the hospital is expected to be completed in 2020.

At the end of 2015, around 3,800 people, including 466 doctors have been employed by Keski-Suomen sairaanhoitopiiri, which is a joint municipal authority that provides specialised medical care services in 21 member municipalities with the total population of 250,000 inhabitants.

NIB, which is owned by eight member countries including Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway and Sweden, finances private and public projects in and outside the member countries.